Weyerhaeuser Co. WY, +0.23% said Monday Chief Executive Doyle Simons has decided to retire on April 1, 2019. The company named Devin Stockfish as new CEO, effective Jan. 1, 2019. Stockfish is currently senior vice president of the company's Timberlands business. He has served in other roles at the paper and pulp company, including as general counsel and corporate secretary. He has also done stints at Starbucks Corp. SBUX, +0.51% and the Boeing Co. BA, +1.33% He will be replaced at Timberlands by Adrian Blocker, who currently leads the company's wood productions business. Shares were slightly higher premarket, but have fallen 1.1% in 2018, while the S&P 500 SPX, +0.56% has gained 7.5%.
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